Revealed: 20 suburbs defying the market slowdown

The housing market boom brought about by the unique factors amid the pandemic has started to ease but a new report from Well Home Loans identified 20 suburbs that appear to go the opposite direction.

The list, which is composed of nine metro and 11 regional locations, include markets that are showing clear signs of robust price gains.

Well Home Loans CEO Scott Spencer said these markets are likely to heat up further over the next few months.

“Inventory levels and days on market have fallen in all 20 locations over the three months to April, often from already low levels, which shows buying conditions have become harder,” he said.

The list is composed of suburbs across different price ranges, with the cheapest being New South Wales’ Lithgow that has a median price of $429,000 and South Australia’s Glenunga having the most expensive median price at $1.4m.

“Vendors have noticed, raising their asking prices in all but two of the locations — this is likely to translate to higher selling prices in the second half of the year.”

The suburbs included in the list have experienced substantial reduction in days on market between January and April 2022.

Furthermore, these suburbs also reported lower inventory levels, which refer to the time needed for the existing stock to be totally sold.

Most of the suburbs in the list have an inventory level of under one month, which means it would take less than 30 days for the current supply to be sold (assuming no further stock is added to the market).




State



Suburb



Type



Median asking price



Days on Market



Inventory Level





VIC



Campbells Creek



House



$659,000



37



Under 1 month





QLD



Corinda



House



$1,208,340



23



Under 1 month





NSW



Albion Park Rail



House



$772,500



20



Under 1 month





NSW



Tuncurry



House



$705,000



38



Under 1 month





NSW



Lithgow



House



$429,000



34



Under 1 month





NSW



Albion Park



House



$821,600



20



4 months





NSW



Smithfield



Unit



$691,200



45



Under 1 month





SA



Greenwith



House



$545,000



26



Under 1 month





NSW



Rylstone



House



$480,000



40



Under 1 month





TAS



Gagebrook



House



$320,000



24



Under 1 month





WA



Chidlow



House



$649,000



43



1.7 months





NSW



Calderwood



House



$949,000



21



3 months





QLD



Enoggera



House



$1,025,000



22



Under 1 month





SA



Glenunga



House



$1,400,000



18



1.2 months





VIC



Cranbourne North



Unit



$490,000



35



1.3 months





NSW



Wangi Wangi



House



$897,600



31



1.3 months





SA



Golden Grove



House



$575,000



34



Under 1 month





ACT



Banks



House



$779,100



20



Under 1 month





NSW



Woodrising



House



$663,000



25



1.2 months





VIC



Cranbourne East



Unit



$504,720



37



3 months




Photo by @aguywithcamera on Unsplash


Top Suburbs :


berala

,

lalor park

,

alexandra hills

,

greenwood

,

canterbury


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